In-Flight Autopilot (Automated) Systems Market is Estimated to Reach $9.4 Billion by 2024, Says Accurize Market Research
In-Flight Autopilot (Automated) Systems Market report published by Accurize Market Research forecast that the global market is expected to reach $9.4 billion by 2024; growing at a CAGR of 4.6% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 6.8% and 5.9%, respectively, during the forecast period.
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Increasing requirement for automation in aviation industryto drive the growth ofin-flight autopilotsystemsmarket
Some major factorssupporting the growth of global in-flight autopilot systemsmarket areincreasingnecessityfor automation in aviation industry, increasing focus towards improving operational efficiency, andincreasing number of air passengers. However,huge cost of in-flight autopilot systems and high dependence on airline companies may act as a restraint for the growth of the market. Moreover,R&D activities to develop innovative featureswould provide several growth opportunities for the market in the future years.
In-Flight Autopilot (Automated) Systems Market is segmented based on system type, aircraft type, application and geography. By system type, the market is divided into flight director system, attitude and heading reference system, avionics system, flight control system, and other system types. Based on aircraft type segment, the market is segregated into rotary wings aircraft, and fixed-wing aircraft. Further, application is categorized into commercial aircrafts, military aircrafts, and civilian aircrafts.
Based on geography, global in-flight autopilot (automated) systems market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North American countries include U.S., Canada, and Mexico whereas Europe segment consist of UK, France, Germany, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, New Zealand, Papua New Guinea and Fiji, among others, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
“Fixed-wing aircraft accounted for the largest market share in the type segment", says Accurize
Fixed-wing aircraft accounted for the largest market share in 2016, in the aircraft type segment, and are expected to continue its dominance during the forecast period 2016 – 2024. The growth is majorly attributed to the mounting focus of the airline companies towards automation of the aircrafts. Commercial aircrafts accounted for the largest market share in 2016, in the application segment, and are expected to continue its dominance during the forecast period 2016 – 2024, Growing focus towards flightsafety coupled with rising number of air passengers in commercial aircrafts has driven the market for commercial aircrafts.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America subjugated the global market with largest market share of 46% in 2016, and expected to continue its dominance during the estimated period, owing to countries such as U.S., is continuously providing their military aircrafts with the highly superior versions of autopilots.
Top players in the market
The major companies operating in the market are Cloud Cap Technology, Inc., Rockwell Collins, Inc., Lockheed Martin Corporation, MicroPilot, Inc., GenesysAerosystems Group, Inc., Garmin Ltd., General Electric Company, Lufthansa Systems GmbH and Esterline Technologies, among others.
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